Cryo-Cell is headquartered in Oldsmar, Florida with a large customer base spread all over the world and a leader in family cord blood banks. It is ISO9001:2008 certified and carries the cGMP/cGTP certifications. It was the first to launch a service allowing women to cryo preserve their menstrual stem cells through cord blood collection for future use.
It is a publicly traded company. With current developments and a huge interest in the immensely promising future of cord blood preservation, one would expect the company to go from strength to strength. Therefore, news that the company is considering possible alternatives to increase shareholder value by selling off the company comes as a surprise.
The company has been in touch with possible buyers and has received a number of offers so far. The company’s investment banker and financial advisor, Morgan Joseph is in the process of negotiations for divestment. He was originally appointed with the purpose of considering strategic acquisitions and no promising ones showed up. This move is said to be in alignment with company policy to maintain its diversified operations and leadership in the field for a profitable growth. Morgan Joseph has shortlisted a few and he was authorized by the Board to conduct negotiations for sale. The sale, of course, will be subject to approval by the Board of Directors.
It will be remembered that they brought about a radical development in 2007 by allowing women to collect and preserve menstrual flow for future use in a way similar to umbilical cord blood stem cell use. Cord blood is the fetal blood found in the placenta and umbilical cord of a newborn child. They are active proponents of getting people to consider saving cord blood for their own or family use instead of public cord blood donations, saving on cord blood cost. When people donate cord blood cells, they do not have to pay a fee whereas Cryo Cell charges a processing and storage fee if you want them preserved for your own future use. Their promotion of cord blood banking is predicated on the belief that in future, in case of serious medical conditions, cord blood stored in the bank can be retrieved and used without any complications or high cost.
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